Pure Extracts (PULL) Confirms New Uptrend as Edibles Ship to BC
Pure Extracts (PULL) is a company that uses CO2 extraction technology to derive full spectrum oil from cannabis biomass. Their purest quality and purity makes them an emerging leader in the extraction space. What the heck does this all mean? Bear with me.
Pure Extracts business model focuses on three things: extraction, formulation, and brand development.
Their extraction facility in Pemberton, BC uses Pure Extracts Vitalis CO2 extraction system producing high quality and pure full spectrum oil. Pure Extracts is aiming to offer different product formulations. Currently focusing on Cannabis and CBD, but the company is positioned to develop functional products in the psychedelic compounds market. A huge growth opportunity.
In terms of brand development, Pure Extracts wants to be number 1! The extract market in Canada is just in the beginning stages, and Pure Extracts is in a good position to leverage their proven success and long term experience!
For more information about the company, check out their Youtube video below, and also check out their investor deck here. Also be sure to take a look at our other Pure Extract articles here on Equity Guru.
My readers know I am a technical guy, so let’s take a look at what market sentiment and structure is telling us! But before we do so, we need to scope out the latest news. This is important, as it can provide momentum for the share price to move higher.
The cash balance is important for any company, but especially for small caps. They need the money to do stuff. For shareholders, it means having the cash to move forward and initiate catalysts for the stock price to go higher.
Going to Sedar.com, and taking a look at Pure Extracts latest financial statements, they do have cash. Sure they can still raise money by issuing shares, which would dilute your shares if you are a shareholder (basically bad if you hold the stock), so cash positions are important to determine whether to buy shares, or await some sort of financing if the companies cash position is low.
In terms of news, it has been a busy few months for Pure Extracts. Recently, they announced the initial shipping of edible cannabis gummies to BC. A revenue producer for the company. This is big news as on July 28th 2021, Pure Extracts received approval to amend their sales license from Health Canada to permit the sale of cannabis extract products to provincially authorized distributors and retailers nationwide as well as to holders of licenses for the sale of medical cannabis extracts.
Very busy July for the company, and the future looks bright with the companies Pure Pills Product brand achieving national consumer recognition.
Onto the charts!